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F1 Returns to Jeddah, Saudi Arabia for Jeddah Grand Prix This Weekend
Saudi Arabia is set to host the Jeddah Grand Prix this weekend, which takes place at the Jeddah Corniche Circuit on Sunday, March 19.
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Polish Prime Minister Mateusz Morawiecki Visits Riyadh, Meets with Crown Prince Mohammed bin Salman
Saudi Arabia’s Crown Prince Mohammed bin Salman “reviewed relations and issues of mutual concern” with Polish Prime Minister Mateusz Morawiecki on Tuesday in Riyadh.
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MENA Region Rushes Aid to Turkey, Syria
In the wake of the February 6th 7.8-magnitude earthquake that devastated large areas of Turkey and Syria many countries, including those in the MENA region, are rushing aid to the area.
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IMF Head Says Gulf Economies are Becoming More Resilient to Energy Prices
Governments of Gulf countries have made progress toward diversifying their economies away from oil by opening up to private investment and implementing taxes, according to comments from Kristalina Georgieva, the head of the International Monetary Fund.
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Abraham Ancer Takes 2023 PIF International Title at Royal Greens in Saudi Arabia
LIV’s Abraham Ancer won this year’s Saudi International Tournament, played at the Royal Greens Golf Club at KAEC, after holding off the PGA Tour’s Cameron Young to take the 2023 title.
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Saudi Arabia Set to Open Riyadh Metro ‘Soon’ — Report
The Riyadh Metro project, the game-changing public transportation project in Saudi Arabia’s capital, “will be opened soon,” Rai Al Youm reported on Wednesday, citing the German News Agency (DPA).
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PIF Assumes Control of $50 Billion Diriyah Project
Diriyah, a massive redevelopment of a historical site on the outskirts of the Saudi capital Riyadh, has become the fifth giga-project in the portfolio of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), according to reports.
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Saudi Arabia’s Sees Strong Labor Force Numbers for Nationals; PMI Holds at 56.9
Saudi Arabia’s job numbers witnessed their strongest growth rate since January 2018, and the unemployment rate for Saudi male citizens has fallen to its lowest level in more than 20 years, according to official data.
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New Draft Rules from Saudi Arabia’s CMA Set to Further Open Stock Market to Investors
Saudi Arabia plans to further open up its capital market to foreign investors by September 2023, with its capital market regulator, the Capital Markets Authority (CMA), proposing several changes to simplify requirements for qualified foreign investors (QFIs) and adding new channels for overseas retail investors in the country’s bourses, according to reports.
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2023 Budget: Saudi Arabia Exceeds Surplus Estimate, Economic Growth Forecasts in Strong Year for Kingdom’s Economy
Saudi Arabia has recorded a budget surplus for 2022 of 102 billion riyals ($27.13 billion), 12 billion riyals ($3 billion) higher than predicted figures, according to reports.
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MUST-READS
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UAE President to begin official visit to US on Monday
President His Highness Sheikh Mohamed bin Zayed Al Nahyan will start an official visit to the United States of America on Monday, the first since assuming the Presidency of the UAE.
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Saudi property market grows despite flurry of new units
A combined 27,500 units came onto the market from January to June in Saudi Arabia’s two largest cities, bringing the total residential stock to about 1.5 million units in the capital and to 891,000 in Jeddah, a new report from the real estate consultancy JLL said. Despite this, residential sales prices jumped 10 percent over a year in Riyadh, with rents growing by 9 percent. In Jeddah, prices were up 5 percent and rents up 4 percent over the first half of 2023, the report said.
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Nestlé establishes its first food manufacturing plant in Saudi Arabia
Nestlé agrees plans for its first food manufacturing plant in Saudi Arabia with investment from the Saudi Authority for Industrial Cities and Technology Zones (Modon). The project aims in its initial stages to produce children’s food and launch an automated production line with modern technologies for packaging and filling materials operated by highly skilled and qualified national personnel. The 270 million SAR (US$72 million) investment is intended to boost local food production. The agreement, signed on September 15, 2024, in Riyadh, allocates a 117,000 SQM plot in Jeddah city’s Third Industrial City for the facility.
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Iran Executed at Least 853 People in 2023
At least 853 people were executed in Iran in 2023, according to a report by human rights advocacy group Amnesty International. This is up 170 percent from 2021, when at least 314 people were killed, and marks the highest number of deaths recorded in eight years. These figures are likely low estimates due to the Iranian authorities not publishing such data publicly.
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Iran’s president insists Tehran wants to negotiate over its nuclear program
The comments by President Masoud Pezeshkian, in response to a question by The Associated Press at his first news conference, underlines a campaign promise he made to try to see international sanctions on the Islamic Republic lifted. However, it remains unclear just how much room for negotiation Pezeshkian will have — and just who will be in the White House come next year.
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Weekly Briefing: Remembrance of Mahsa Jina Amini and calls for change remain strong, as Pezeshkian’s cabinet disappoints
Two years on since the Sept. 16, 2022, killing of Mahsa Amini in police custody and the start of the Woman, Life, Freedom protests, popular demands for social reforms will continue to shape the future of Iran, despite the window-dressing of Pezeshkian’s pseudo-progressive government
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Iran’s Missile Delivery to Russia Triggers Western Backlash
During a press briefing last week, Pentagon Press Secretary Air Force Maj. Gen. Pat Ryder stated: "The United States has confirmed reports that Iran has transferred shipments of Fath 360 close-range ballistic missiles to Russia, which we assess could employ them within weeks against Ukraine, leading to the deaths of even more Ukrainian civilians." He added that right now, U.S. officials have not determined how many missiles are involved, but some press reports claimed Iran might have delivered up to 200 of the weapons. Iran reportedly proceeded with the transfer by loading the weapons on a Russian ship that docked on Iran’s Caspian Sea coast.
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On the Second Anniversary of Mahsa Amini’s Death, Where Do Women Stand in Iran?
Large numbers of women are appearing in public without headscarves and a newly inaugurated government includes a woman cabinet minister, a female vice president in charge of the environment and a woman spokesperson. Despite these efforts, the number of women in the government of President Masoud Pezeshkian is fewer than during the two terms of President Mahmoud Ahmadinejad (2005-2013) and only slightly higher than during the tenure of Hassan Rouhani (2013-2021). There remains skepticism about the depth of these gestures, as Iranian women continue to face substantial structural barriers and cultural attitudes that hinder progress toward gender equality.
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Ronaldo’s Saudi Arabian club Al-Nassr fires another coach
“Al-Nassr can announce that head coach Luis Castro has left the club,” the club said on social media. “Everyone at Al-Nassr would like to thank Luis and his staff for their dedicated work during the past 14 months, wishing them the best of luck for the future.” The Riyadh club drew 1-1 against Al-Shorta of Iraq on Monday in the opening game of the AFC Champions League Elite.
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Saudi’s Red Sea International Co. Subsidiary Signs $405.8 million MEP Works Contract
Red Sea International Company, Saudi Arabia announces that its subsidiary, The Fundamental Installation for Electric Work Co. Ltd. has signed a contract with Modern Building Leaders Co. The value of the contract is SAR 1.52 billion. The contract is related to Supply, installation, testing, and commissioning of mechanical, electrical, plumbing (MEP), and infrastructure works in one of the projects. The duration of the contract is 19 months.
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